BA in Business Marketing Management Assignment (GC01688)
Table of Contents
1.0 Introduction.
2.0 Construct a Marketing TOWS for Aldi
3.0 Marketing Objectives for the `Express Ourselves` Marketing Campaign over the 12 months period
3.1 Objective 1: To offer a lower price but better quality in competitive market
3.2 Objective 2: To differentiate its products and services to attract potential customers and retain existing customers.
3.3 Objective 3: To increase brand awareness and brand image in the market
4.0 Marketing Mix Plan to achieve these objectives over the 12 months period.
5.0 How Aldi can improve their levels of Customer Service as part of their `Express Ourselves` Marketing Campaign.
6.0 Conclusion.
References.
1.0 Introduction
According to Martina (2018), marketing management can be defined as the management of marketing activities effectively for achieving the marketing objectives. The strategic marketing plans depend on the analysis of TOWS and marketing mix analysis (Rohit, 2017). This report contains a description of marketing management of the retail industry. The name of the retail firm is Aldi. Normally, Aldi operates the retail business functions in Germany and other UK countries. The marketing strategy, pricing policies and other activities of Aldi have a great influence on the brand image of this company. This company has 10,000 stores in several areas (Aldi Stores Limited, 2019). Firstly, this report analyzes the TOWS factors, second marketing campaigns along with the marketing mix of Aldi at which this company is trying to ensure effective marketing management.
2.0 Construct a Marketing TOWS for Aldi
Johnson et al. (2015) stated that TOWS factors consist of threats, opportunities, weaknesses and strengths by which business organizations can analysis their position and take better actions to remove all the threats and challenges through effective implementation of strengths and opportunities. TOWS analysis is considered as a matrix of factors analysis that indicates which strength of opportunity is used to mitigate the specific weakness or threats (Martina, 2018). This matrix can be categorized under Strengths-Opportunities (SO), Strengths-Threats (ST) Weaknesses-Opportunities (WP) strategies and Weakness-Threats (WT) (Cardona, 2018). Therefore, the marketing TOWS analysis of Aldi is presented here:
| TOWS Matrix | Threats
1. New entry of similar business 2. Higher production cost 3. Increasing global competition 4. Political factors threats 5. Changeable customers demand 6. Technological threats 7. Economical downturns 8. Threats of coronavirus (Wunsch, 2020; Sillitoe, 2020); Skeldon (2020); Market Research, 2020)
|
Opportunities
1. Expansion of online business 2. Using social media marketing 3. Growth of potential consumers 4. Expansion of business in several potential countries 5. Stable political environment of UK 6. Government support 7. Easy loan facility 8. Advance technology 9. Good working environment
(Creately, 2020; Rahman, 2020; Haque, 2020; Market Research, 2020)
|
| Weaknesses
1. Lack of quality employees 2. High level of factory cost 3. Lack of creativity and innovation s 4. High rate of labor turnover 5. Decreasing trend of profit 6. Lack of funds 7. Lack of technological support 8. Lack of experience (Creately, 2020; Rahman, 2020; Haque, 2020; Market Research, 2020) |
WT Strategies
· Produce quality and maximum products through recruiting quality employees (W1, T3) · Increase the motivation of the employees through better technological support (W7, T6) · Remove the lack of creativity by creating better opportunities for the employees (W3, T4). · to minimize high labor turnover (W5, T7) · Increase the research and development activity to mitigate all environmental and changeable threats loyalty (W7, T8)
|
WO Strategies
· Enhance the performance of the employees by providing a good working environment (W1, O9) · Reduce the fixed cost by social media marketing (W2, O1) · Increase the creative and innovative power through using advanced technologies (W3, O8) · Increase labor retention by providing a good working environment (W4, O9) · Increase profitability by expanding the online business (W5, O1) · Collecting more funds by taking loan facility (W5, O7) · Increase the use of technology to expand business in several countries (W7, O4) · Use government support to increase the efficiency and experience in the retail industry (W8, O6) |
| Strengthens
1. Effective distribution of products 2. Effective pricing strategy 3. Effective marketing campaigns 4. High growth of business 5. Efficient and effective staffs 6. Large funds 7. Creative and innovative features (Creately, 2020; Rahman, 2020; Haque, 2020; Market Research, 2020)
|
ST Strategies
· Aldi has used the effective distribution of products to customers for mitigating the threats of new entry of similar business (S1, T1) · Using effective pricing strategy to meet the changeable customer’s demand (S2, T5) · Taking several marketing campaigns to overcome the threats of environment and competitors (S3, T6) · Using large funds to meet the economical downturns (S6, T7) · Recruiting more efficient and effective staffs to reduce the production cost (S5, T2) · Launch creative and innovative features of products to beat competitors (S7, T3) |
SO Strategies
· Aldi has used the effective distribution of products to customers for attracting online customers (S1, O1) · Using effective pricing strategy to grow the potential customers (S2, O3) · Taking several marketing campaigns to cover social media marketing (S3, O2) · Using large funds to expand of business in several potential countries (S6, O4) · Recruiting more efficient and effective staffs to attract more customers (S5, O6) · Launch creative and innovative features by using advanced technology (S7, O8) |
3.0 Marketing Objectives for the `Express Ourselves` Marketing Campaign over the 12 months period
3.1 Objective 1: To offer a lower price but better quality in a competitive market
Since Aldi is a grocery shop, the main competitors are the other grocery stores in the market. The competitors set up prices on the basis of several strategies to ensure customer attraction in the market. Due to this high-level competition, Aldi should apply a lower price strategy to sustain itself in the competitive market. For this reason, Aldi has set an objective to make the price level lower and reasonable other than the competitors. The lower price level does not mean that the quality of products is minimized. Therefore, Aldi needs to collect finished products from the suppliers of wholesalers at a lower cost. In addition, the operating and fixed costs of Aldi must be reduced than the competitors. After that, Aldi needs to recruit more quality employees for delivering the servicing the customers effectively. Nerea (2017) stated that effective management is required to control all other expenses of the business. Therefore, Aldi has to create an effective management system in the workplace to reduce the cost of operation and distribution. And then, this company set a reasonable pricing strategy for the products to attract more customers and compete in the market……
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